Blackstone Inc. and Goldman Sachs Asset Management are providing the biggest portions of a roughly $900 million direct loan to Depot Connect International as it refinances more expensive private debt, according to people with knowledge of the matter.
Apollo Global Management Inc. is also participating in the loan to the KKR & Co.portfolio company, said one of the people, asking not to be identified because the details are private. The debt will pay 4.75 percentage points over the Secured Overnight Financing Rate, they added, or around 1.75 percentage points below the rate on the company’s existing debt.
The refinancing ...
